Ola Electric Is Said to Face Investor Pushback on IPO Valuation [BNN Bloomberg (Canada)]
Citigroup, Inc. (C)
Last citigroup, inc. earnings: 4/15 08:00 am
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Source: BNN Bloomberg
The company's founder has been aiming for a potential valuation of as much as $7 billion in a Mumbai listing, the people said, asking not to be identified as the information isn't public. That would compare with a valuation of about $5 billion based on initial feedback from investors, the people said. At $5 billion, Ola Electric's current investors may opt not to sell existing shares in the company, the people said. Considerations are ongoing and no final decisions have been made, the people said. A representative for Bengaluru-based Ola Electric didn't immediately respond to a request for comment. Backed by SoftBank Group Corp. and Tiger Global Management, Ola Electric is looking to raise 55 billion rupees ($659 million) by selling new shares in the IPO, according to its prospectus. India's market regulator approved the company's IPO plans on Thursday. The scooter maker's IPO comes as India continues to be a bright spot for equity capital markets in Asia. Bankers expect more
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C
Earnings
- 4/12/24 - Beat
C
Sec Filings
- 6/27/24 - Form 424B2
- 6/27/24 - Form 424B2
- 6/27/24 - Form 424B2
- C's page on the SEC website